Mr Gopal Mahey, senior counsellor at the Centre for Psychotherapy, said social media can provide a platform with instant audiences and a curated reality, which could provide a false sense of belonging for users.
"Algorithms reward spectacle. The more outrageous the flex, the more engagement it gets.
"The hustle culture narrative promotes the idea that success is about fast money, regardless of the method used to achieve it," said Mr Gopal.
The fact that viral content thrives on controversy also reinforces dangerous behaviours as users become incentivised by engaging in higher risk-taking, he added.
Dr Annabelle Chow, principal clinical psychologist at Annabelle Psychology, said social media platforms are the perfect breeding ground for those seeking admiration or validation from others.
She said that a thriving "flex" culture is in part due to the social media scene, where influencers "flex" or flaunt their lives to become the source of envy among their community.
"I think social media fuels these behaviours. That need for comparison, to be validated, or simply to show off. The behaviour is not new, but social media amplifies these effects with very little effort," she said.
The experts were commenting on the exploits of a number of young people who bragged about their flashy lifestyle earned through alleged criminal activities.
They include Malone Lam Yu Xuan, a 20-year-old from Singapore accused of being a co-conspirator in one of the largest cryptocurrency thefts in US history.
Lam allegedly stole Bitcoin valued at more than US$240 million (S$320 million) and spent large chunks on mansions, cars, luxury clothes and jewellery.
Others who made the headlines include local influencer Chin Tung Sheng, who on March 7 pleaded guilty to seven charges including forgery, cheating and theft.
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